Economic Analysis

Hicks: Traditional economic development doesn't workRestricted Content

September 20, 2014
Mike Hicks
The cost of luring a firm to town has skyrocketed, while the benefits have plummeted. The United States has created more than 90 million net new jobs over the past 45 years, but fewer “attractable” jobs are available today than in 1969.
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HICKS: Focus on shrinking the federal governmentRestricted Content

September 13, 2014
Mike Hicks
Small-government sentiment runs strong in Indiana, and we can be pleased with the resulting low taxes, thoughtful regulatory environment and greater personal freedom. Still, I think much of the small-government movement in Indiana targets the wrong problems.
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Hicks: Sluggish economy complicates forecastingRestricted Content

September 6, 2014
Mike Hicks
When the economy is getting much better or much worse, the trend is obvious even if there are occasional mixed signals. When the economy changes little, almost every piece of new data can be confusing.
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Hicks: Liberalism on campus is mostly irrelevantRestricted Content

August 30, 2014
Mike Hicks
That academia is a creature of the left is hardly in question. Voting patterns and political contributions of professors are widely studied, and astonishingly leftist. Diversity efforts seek to build a cadre of people who look different but think exactly alike. Still, I wonder how much it really matters.
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Hicks: Who actually pays the taxes? Good questionRestricted Content

August 23, 2014
Mike Hicks
Among the most misunderstood concepts in public policy is the burden of taxes. One unfortunate result is a good bit of bitterness and calumny over who pays their fair share.
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Hicks: College success comes to those who persevereRestricted Content

August 16, 2014
Mike Hicks
About half of all young people try college, but only half of that group finish a degree. The difference between these groups is almost wholly due to old-fashioned hard work and perseverance.
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Hicks: World still suffering from World War I falloutRestricted Content

August 2, 2014
Mike Hicks
World War I began a century ago this week, and its legacy continues to have economic, social and political effects.
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Hicks: Don't confuse inflation with supply and demandRestricted Content

July 26, 2014
Mike Hicks
Almost nothing in economics seems to confuse people as much as monetary inflation. That confusion leaves an intellectual void into which some of the least credible ideas of the modern world crawl.
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Hicks: Falling state income tax revenue is bad omenRestricted Content

July 19, 2014
Mike Hicks
Nationally, from July through September 2013, growth in state income tax collections slowed appreciably. Only a few states were spared, and here in Indiana they actually shrank slightly, as they did in five other states.
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Hicks: Indiana good, but not optimal, for small firmsRestricted Content

July 12, 2014
Mike Hicks
a recen studied of states' friendliness to small businesses gave Indiana poor grades for ease in finding workers, leveling blame on networking and training programs. This is interesting, but almost certainly not the actual problem.
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Hicks: Rulings limit state power, embrace freedomRestricted Content

July 2, 2014
Mike Hicks
This past couple of weeks has offered a rare series of court rulings that have implications for both households and businesses.
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Hicks: Loopholes help one class at expense of othersRestricted Content

June 28, 2014
Mike Hicks
Every loophole, deduction, exemption, abatement and carve-out is designed to benefit one class of citizens at the expense of others. These are neither fair nor simple. They are rarely effective.
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Hicks: Accountants derail irresponsible governmentsRestricted Content

June 21, 2014
Mike Hicks
New Government Accounting Standards Board rules require state and municipal governments to report their pensions in ways more like that of private sector pensions.
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Hicks: Subsidizing filmmaking is a losing proposition

June 14, 2014
Mike Hicks
Without even touching upon the fairness of Indiana taxpayers subsidizing Hollywood studios, film tax credits are of dubious value. The jobs they generate are transient, often low-paying and unlikely to meet the simplest benefit-cost calculus.
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Hicks: Technology might be suppressing robust growthRestricted Content

June 7, 2014
Mike Hicks
Quarter after quarter of booming growth, seen for several decades, might have slowed permanently. The 2000s saw only five rapid-growth quarters, and this decade has had two. It might mean that higher average growth rates are more difficult to achieve due to structural changes in the economy related to technology.
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Hicks: Income inequality tied to capital investmentsRestricted Content

May 31, 2014
Mike Hicks
French economist Thomas Piketty’s new book “Capital in the Twenty-First Century” is far and away one of the most important books on the economy in some time.
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HICKS: Promises to veterans too expansive to keepRestricted Content

May 24, 2014
Mike Hicks
A promise of nearly infinite health care to any large group of people has a nearly infinite cost.
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Hicks: Hoosiers voting to pay for better public servicesRestricted Content

May 17, 2014
Mike Hicks
I have long argued that Hoosier taxpayers are willing to spend more in places where they can see results. The results of the recent election suggest I am right about that.
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Hicks: Many women sacrifice careers for their childrenRestricted Content

May 10, 2014
Mike Hicks
Mother’s Day is a splendid opportunity to think about the evolving economic effects of women as parents, how this influences their economic lives, and how women value motherhood in economic terms.
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Hicks: State, local government unbalanced in IndianaRestricted Content

May 3, 2014
Mike Hicks
Having lived and worked in three states over the past decade, I have watched how state policy influences local government.
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Hicks: Obama pitches gender pay gap to the gullibleRestricted Content

April 26, 2014
Mike Hicks
If we separate people into two groups by age, education, gender, race, occupation or almost any other factor, their average wages differ in some way. But this sort of comparison doesn’t tell us much. If we use statistical methods that account for multiple characteristics, wage differences for most factors disappear.
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Hicks: Tax rates only half the story of governmentRestricted Content

April 17, 2014
Mike Hicks
With the passing of April 15 and the annual ritual of tax filings, news pages are filled with discussion about the size of federal, state and local tax burdens.
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Hicks: Measuring the immeasurable is huge challengeRestricted Content

April 12, 2014
Mike Hicks
One aspect of economic research I think is especially powerful is the ability to measure or monetize the things humans clearly value but for which a market price is not necessarily apparent.
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Hicks: Economics lessons for today are simple, hardRestricted Content

April 5, 2014
Mike Hicks
Far too much worry is placed in the short-run ups and downs of the economy, but I am not worried about business where errors are ultimately punished. The real worry is that public policy will extend its embrace of short-run fixes, which are chimerical.
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Hicks: Medical firms are largest perpetrators of fraudRestricted Content

March 29, 2014
Mike Hicks
Medicaid and Medicare fraud is where the real money lies, costing taxpayers some $100 billion a year, or 10 percent of total costs. This is many times more than the highest estimate of fraud in all other assistance programs combined. Nearly all of this fraud is perpetrated by health care providers.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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